With pro 16, when I open a .veg file, all the events in the time line are missing. The whole movie appears as just one event, so there's no way to adjust the edits.
Any 'File not found' error messages when opening the saved <.veg> file? Can you post screenshots? Are the media files on the same PC as the project <.veg> file?
And how did you save your project originally? From online Help, Saving... a project (Save As): "The .veg file does not combine events into a single file."
No error message, and I'm running the .veg file on the same computer. Obviously the project was saved as a .veg file. Not much to see in a screen shot, other than the timeline not showing any events.
I think you are not opening the .veg, but you dragged that .veg to the timeline. That option we call adding a "nested" veg. You can rightclick on that veg event to open it in another instance of Vegas or use the option to open the project.